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Abrigo · Bank outage1 min read

Software used by 2,400 U.S. banks goes dark after suspicious activity

Abrigo took its Sageworks loan software offline after suspicious activity. If your bank uses it, here is what is known and what to watch for.

By the Dashline deskSource: BleepingComputer
Software used by 2,400 U.S. banks goes dark after suspicious activity
Photo: Victorgrigas, CC BY-SA 3.0

Abrigo, a company that makes loan software for community banks and credit unions, took its Sageworks platform offline on October 30 after spotting "irregular activity." Most features are back now. The tools that borrowers use directly are still down.

What is known

Abrigo says it shut down Sageworks at about 11:25 am ET, "out of abundance of caution." The software helps lenders process loan applications, review borrowers' finances and track loan portfolios. It handles sensitive customer details. Abrigo says it serves more than 2,400 banks and credit unions across the U.S. The outage hit Online Portal Now, Sageworks Analyst and Sageworks API.

Abrigo has not said what the activity was. It is unclear whether it was a breach or a technical problem. BleepingComputer asked for details and had no reply by publication time.

What to watch

Earlier this year, someone claiming to belong to the ShinyHunters extortion group said they stole 1.7 million records from Abrigo. That claim was never confirmed. Some researchers advised banks using Sageworks to change their API keys, which work like passwords that let software systems talk to each other.

If your local bank or credit union uses this software, watch for scam emails or calls that use your account details. It is also fair to ask the bank what happened.

The takeaway

If your bank uses Sageworks, be wary of unexpected emails or calls that mention your account, and ask the bank what happened.

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